This rulemaking would address the provisions in 23 U.S.C. 106(h) by streamlining and codifying FHWA's existing guidance used to implement 23 U.S.C. 106(h), which requires recipients of Federal financial assistance for a "major project" to submit Project Management Plans (PMPs) and Financial Plans (FPs) to FHWA. The rule also may include administrative flexibilities to enhance program efficiency, including assumption of FHWA responsibilities by State Departments of Transportation (State DOTs), and it would simplify the FP annual update format. A "major project" is a Title 23 project with an estimated total cost of $500,000,000 or more, and such other projects as may be identified by the Secretary of Transportation. The major project requirements under the rule would apply to recipients of Federal financial assistance such as State DOTs, Local Public Agencies, Toll Authorities, or public-private partnerships (P3).